“We’re big exporters,” Chief Executive Officer Alison Watkins said today in an interview in Sydney. “It’s definitely
something that makes us more competitive, and it can only assist
farmer profitability, and therefore investment.”

The Australian dollar is the worst performer among a group
of 10 currencies in the past six months, falling 11 percent
versus the greenback. It held above $1 from mid-June last year
to May 10, the longest stretch above parity with the U.S. dollar
since the Aussie was freely floated in 1983.

Decatur, Illinois-based ADM earlier this year agreed to
acquire GrainCorp for A$12.20 a share. The deal is subject to
approval from Australia’s Foreign Investment Review Board and
China’s Ministry of Commerce as it will give ADM, the world’s
biggest corn processor, control over seven of the eight ports
that ship grain in bulk from Australia’s east coast.

Australia is the world’s third-largest shipper of wheat and
beef, and the largest wool exporter.

Further consolidation and turnover of properties is
expected in the Australian farm industry, Watkins said today.
“In the grain industry, generally bigger is better.”

The Aussie dollar climbed 0.3 percent to 92.72 U.S. cents
as of 4:00 p.m. in Sydney.